DPO Forex Signal Oscillator Indicator For Metatrader 4

The DPO Forex Signal Oscillator indicator For Metatrader 4 is a momentum indicator that profits for shorter-term market movements.

It works great for both scalpers and day traders.

Just use it to scalp or day trade the market for anything between 10-25 pips per trade.

The idea behind the indicator is to benefit from early trend reversals multiple times a day during the most active trading sessions.

It can be used as a standalone signals oscillator or used together with longer period trend indicators.

Just load the DPO Forex Signal Oscillator indicator onto the Metatrader 4 chart and start trading with it.

Key Takeaways

  • A bullish trend occurs when the DPO Forex Signal Oscillator indicator trades above the zero level (0.00). The indicator is now short-term bullish.
  • A bearish trend occurs when the DPO Forex Signal Oscillator indicator trades below the zero level (0.00). The indicator is now short-term bearish.
  • Does not repaint its signals.
  • Works for scalping and day trading any pair.

Feel free to explore the DPO Forex Signal Oscillator indicator’s different parameters and settings to create your own personalized indicator setup.

Download This MT4 Forex Indicator Free

Download the “DPO.ex4” Metatrader 4 indicator

Indicator Example Chart (EUR/USD H1 Chart Example)

Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.

Finding Buy and Sell Triggers With The DPO Forex Signal Oscillator MT4 Indicator

Buy Signal: Open a buy trade when the DPO oscillator signal line crosses the 0.00 level upward.

Set your stop loss below short-term support, or use your own favorite stop loss method.

Take your profit when the DPO signal line crosses the 0.00 level downward (sell signal), or use your own favorite take profit method.

Alternatively, exit the buy trade for fixed profit target.

Sell Signal: Open a sell trade when the DPO oscillator signal line crosses the 0.00 level downward.

Set your stop loss above short-term resistance, or use your own favorite stop loss method.

Take your profit when the DPO signal line crosses the 0.00 level upward (buy signal), or use your own favorite take profit method.

Alternatively, exit the sell trade for fixed profit target.

Download This Forex Indicator Now

Download the “DPO.ex4” MT4 indicator

Adjustable Parameters

Count bars, period, colors, width, style.

More Info About This Indicator

Tradable Currency pairs: Any

Trading Platform: MT4

Time frames: M1, M5, M15, M30, H1, H4, D1, W1

Indicator Type: oscillator

Installation

Copy and paste the indicator in the MT4 indicators data folder.

Then restart the MT4 terminal and attach it to any chart.

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